All punters aim to make money from their online sports betting. Even those punters who play for fun have gains in view, since no one bets to lose, right? This seems to us to be a given. From there, there is another fact that we assume to be true: any and all bettors want to play with the highest odds on the market, since that way they will be able to qualify for bigger winnings. The search for the highest odds is a constant.
What are odds?
If you are a punter, you will be perfectly familiar with the concept of odds. Basically, the odds are probabilities, they are values associated to a certain scenario provided by the House so that you can place your bets. These odds are calculated by the sportsbook and reflect how likely it is that the scenario in question will end up being confirmed.
The higher the odd, the less likely this scenario will be. The lower it is, the more likely it is to happen. Basically, the amount that appears associated with an odd reflects the amount that you will be able to invoice if your bet is successful.
Calculating the potential profit of an odd is very simple: observe the value of the odd and multiply it by the amount you intend to invest.
There are different types of odds and they can be presented in different ways. Each sportsbook decides in which format to display them, but, as a general rule, you will be able to access the settings and thus place them in the format that you like.
There is a clear predominance of odds presented in decimal or European format. In this case, as we mentioned above, you just need to multiply the amount you invest stake by the amount shown in the odd to understand your potential profit.
However, odds may not always appear in decimal format. Sometimes, you can find the odds in fractional or American format. Basically, the value representing is exactly the same, but the format adopted is that it is different.
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